Republic of Korea: Market for Inorganic Oxygen Compounds Of Non-Metals 2024

Market Size for Inorganic Oxygen Compounds Of Non-Metals in Republic of Korea

The South Korean market for inorganic oxygen compounds of non-metals reached $X in 2021, approximately reflecting the previous year. Over the period under review, consumption, however, saw a resilient expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Production of Inorganic Oxygen Compounds Of Non-Metals in Republic of Korea

In value terms, inorganic oxygen compounds of non-metals production totaled $X in 2021 estimated in export price. In general, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 66% against the previous year. Inorganic oxygen compounds of non-metals production peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports of Inorganic Oxygen Compounds Of Non-Metals

Exports from Republic of Korea

In 2021, overseas shipments of inorganic oxygen compounds of non-metals decreased by -39.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 55% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank markedly in the following year.

In value terms, inorganic oxygen compounds of non-metals exports dropped notably to $X in 2021. In general, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by 87%. The exports peaked at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

China (X tons) was the main destination for inorganic oxygen compounds of non-metals exports from South Korea, accounting for a 50% share of total exports. Moreover, inorganic oxygen compounds of non-metals exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-0.4% per year) and Vietnam (-2.2% per year).

In value terms, the largest markets for inorganic oxygen compounds of non-metals exported from South Korea were China ($X), Poland ($X) and Taiwan (Chinese) ($X), with a combined 86% share of total exports.

Among the main countries of destination, Poland, with a CAGR of +178.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for inorganic oxygen compounds of non-metals amounted to $X per ton, which is down by -3% against the previous year. Over the period under review, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 29% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-4.5%), while the prices for the other major destinations experienced a decline.

Imports of Inorganic Oxygen Compounds Of Non-Metals

Imports into Republic of Korea

In 2021, imports of inorganic oxygen compounds of non-metals into South Korea declined to X tons, with a decrease of -9.6% on the previous year. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 40% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then shrank in the following year.

In value terms, inorganic oxygen compounds of non-metals imports dropped to $X in 2021. In general, imports showed a mild contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 21% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of inorganic oxygen compounds of non-metals to South Korea, accounting for a 71% share of total imports. Moreover, inorganic oxygen compounds of non-metals imports from China exceeded the figures recorded by the second-largest supplier, Austria (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-6.4% per year) and Japan (-6.1% per year).

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest inorganic oxygen compounds of non-metals suppliers to South Korea, with a combined 92% share of total imports.

In terms of the main suppliers, China, with a CAGR of +19.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for inorganic oxygen compounds of non-metals amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 10% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :